Hero MotoCorp Q2 PAT up 28% at Rs 1004.22 crore

The EBIDTA margin improved to its highest ever 16.2 percent, as against 14.91 percent over the corresponding quarter aided by softer commodities and cost control measures (LEAP).ETAuto | Updated: October 28, 2016, 12:12 IST

NEW DELHI: Indian two wheeler manufacturer Hero MotoCorp has posted 28 percent growth in its Profit After Tax (PAT) and stood at Rs 1004.22 crore for the second quarter ended on September 30, 2016. It registered gross turnover of Rs 8448.74 crore, and highest ever sales of 18,23,498 units in the quarter.

The EBIDTA margin improved to its highest ever 16.2 percent, as against 14.91 percent over the corresponding quarter aided by softer commodities and cost control measures (LEAP).

Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp said, "During the second quarter of this fiscal, we have delivered on our commitment of further strengthening our profitability by crossing the threshold Rs 1000 crore in PAT for the first time in a quarter."

Munjal further added, "The domestic market has seen a revival in the past two quarters due to an above average monsoon and positive consumer sentiment. The trend is expected to continue through the year and likely to result in double digit growth for the industry."

"In the global markets, however, the industry continues to face headwinds due to volatile business environment driven by continued weakness in crude prices and sharp depreciation of local currencies."

The company further added "We have already crossed 1 million unit sales during this festive period, even before Dhanteras day. With almost a week remaining in the festive season, including the Dhanteras and Diwali days, we are confident of further adding to this tally."